Steven Hugh Murphy of Simi Valley California a stockbroker formerly registered with VSR Financial Services Inc. is referenced in a customer initiated investment related arbitration claim where the customer sought damages estimated to exceed $5,000.00 based upon accusations that (1) the customer was a victim of elder abuse (2) transactions were effected in violation of securities laws of the State of California (3) fiduciary duties owed to the customer were breached and (4) real estate securities and direct investment products were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 16-01531 (June 7, 2016).

FINRA Public Disclosure additionally confirms that on September 12, 2016, a customer initiated investment related complaint regarding Murphy’s activities was settled for $6,000.00 in damages founded on allegations that while Murphy was associated with VSR Financial Services Inc.: the customer’s account was handled negligently; misrepresentations were made concerning investments; fiduciary duties owed to the customer had been breached; real estate security, limited partnership interests or direct participation program transactions were not suitable for the customer; and the customer had been defrauded.

Murphy’s registration with VSR Financial Services Inc. has been terminated on September 1, 2016. Since then, Murphy has been employed by Summit Brokerage Services Inc.

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Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

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